[2016-12-09] Nasdaq: Why Bitcoin Could Be More Important Than The Internet

[DooMAD]

Bitcoin is a relatively new form of currency that is just beginning to hit the mainstream, but many people still don’t understand why they should make an effort to use it.

Bitcoin was one of the biggest leaps in technology since the inception of the Internet, hailing the new era of digital money, disrupting industries and financial institutions as well as introducing a new social paradigm where transparency and trust are the default value.

(...)

Ultimately, mass adoption of Bitcoin will not only mean financial and technological revolution. Bitcoin is not simply a currency or protocol. Bitcoin is the ultimate showcase of trust in mathematics and perfectly embodies the changing times we live in. Disrupting the money space is also disrupting our cultural, social and political systems.

Finance and politics have been closely linked throughout history and recognizing Bitcoin as an official currency will have a big impact on world’s governments, political parties and administrative institutions who will have to adjust legislations to match the new paradigm. Undoubtedly, this will lead to more transparency within governments and prevent corruptive practices.

Reducing the human factor in money supply and institutional involvement in money distribution to the minimum is an important step forward for our society, and hopefully, we will witness a widespread economic reformation in an attempt to solve the inherent problems with paper money. In this respect, Bitcoin was the missing piece in the puzzle.


Read more: http://www.nasdaq.com/article/why-bitcoin-could-be-more-important-than-the-internet-cm719185

[1Referee]

Bitcoin is a fantastic invention where a lot people have been benefiting from as it allows people to enjoy financial freedom, send money anywhere in the world instantly without the need of a third party, etc. But Bitcoin is not more important than the internet, and probably never will. Fact is that Bitcoin fully relies on the internet, so in that regard, I don't find it fair to label Bitcoin as being more important than the internet. Other thing is that simply not everyone is interested in Bitcoin as fiat related payment platforms are sufficient enough for the average person. Bitcoin will be there to serve people that are really looking for something different, and to escape the current system where they are nothing more than a slave.

[Karartma1]

This time I will keep my feet on the ground: I don't think Bitcoin is more important than the Internet but I do believe that the two walk together on the same line.
Without the Internet there could be no Bitcoin and so they will always be intertwined.

[Qartersa]

This time I will keep my feet on the ground: I don't think Bitcoin is more important than the Internet but I do believe that the two walk together on the same line.
Without the Internet there could be no Bitcoin and so they will always be intertwined.

Yeah, we can't use Bitcoin without internet or else we have to link every computer using bitcoins as well as the nodes. That would be absurdly hard and unnecessary. Also, Bitcoin is mostly used on services and products available online. Another thought is that bitcoin is just a financial tool that we use in the internet. Hence, this means that Bitcoin is actually a part of the internet and not a separate concept. It's like, the internet can survive without bitcoin and not the other way around.

[Kprawn]

Bitcoin can only make a difference, if it is allowed to do it. The governments of this world, does recognize it's value... but they want to be in

control... Regulation gives them control, and they will allow Bitcoin to proceed, if they can regulate and control it. The banks recognized this

need {control} and are in the process to create their own Blockchain based technologies, to give governments this control. Do you want to

guess what will happen after they have done this?

[veleten]

a part cannot be greater than the whole by definition
since bitcoin cannot exist without internet and was created within its boundaries
I would say it could not be more important

[aigeezer]

a part cannot be greater than the whole by definition
since bitcoin cannot exist without internet and was created within its boundaries
I would say it could not be more important

a part cannot be greater than the whole by definition
since bitcoin cannot exist without internet and was created within its boundaries
I would say it could not be more important

The claim is not "greater than". It is "more important than". Importance is a subjective opinion-based notion, not a mathematical, quantifiable one such as "greater than" in the context of parts and wholes.

As for the importance of BTC, it's too early to tell imho. I hope it is as the Nasdaq piece speculates.

Wired magazine (notoriously wrong in such matters since 2011) has recently opined that the future of BTC is not as a digital currency at all.

Time will tell. I see all such media speculation as light entertainment - they want eyeball counts to show to their advertisers - and I guess we just gave them what they want.